Blender Compatibility Script?
No, not as far as I know of.

Blender can load older files into newer Blender version, taking care of updating settings.

It's possible to write a script that changes the settings of a .blend file of course, but this would most likely be a workaround for problems in Blender's own conversion, so if there is really a bug there, it should be reported.

In other cases changes cant be easily converted since the settings are not 1:1 equivalent, so in those cases you probably have to accept some manual tweaking to get comparable settings.